To be honest we normally don’t cover other crypto projects and try to avoid any comparisons between them, simply because there are enough places you can go and read up on those already. Our goal is to inform our audience on Gulden related news and topics and keep everybody posted on new developments, GAB, community decisions and software releases etc… Please follow us on Twitter too if you like to follow every heart beat the project makes. Our Twitterhandle is @GuldenBites.
That being said, we think it is important to make an exception for the Novo project, since it is so closely related to Gulden.
In short Novo is a side project launched by Rijk, the initiator of Gulden. It will start July 1st and will be tradable on Nocks.com. You can buy tokens already from their website. Use our refcode 40FD9BFC if you want to get some extra. But please do your own research before investing, as you would with any other ICO!
The idea is to tackle a few common problems current cryptocurrencies face. One of them being legislation/legality, and KYC. We all know by now that governments are writing up new rules projects have to obey to in the future. By starting a new coin, with all the KYC in place from start you can circumnavigate future legal issues. Working together with banks, governments and companies could be therefore way easier and probably generate less resistance as e.g. Libra faces momentarily. Everybody wanting to buy Novo has to register at Nocks. How they will prevent other exchanges listing e.g. a Novo-Bitcoin pair and circumnavigate KYC in the future is unclear yet.
Another problem most crypto currency face is volatility caused by whales. Most coins were issued at very low prices and pumped thereafter. Whales can then easily control price and dump large amounts, create fear and buy back lower and pump price again. Leaving the average Joe most of the time completely clueless on what just happend to his portfolio to probably never return. Novo seeks to eradicate this by limiting the amount of coins one can acquire at the ICO. But after the listing on Nocks, markets are open and no one can prevent whales from entering the market. After a while some persons will own more coins than others. It’s a noble thing to try, but it’s not guarenteed if it will have any effect on the long run.
A lot of institutions like to work with central governed companies. A community driven crypto project like Gulden, is often to wary for them. This is also true for a lot of people. They like the fact that there is a central person or leader they can talk to or take accountable for. In this Novo is very different to Gulden. Novo will be centrally run by Rijk and some Advisory team members. Not a decentralized crypto project as we know and love, but it could work for Novo and attract new people to crypto that didn’t liked the absence of a centralized and controled environment.
Novo will be developed by the same development team as Gulden is, and will share large parts of it’s technology. It is good to see that Gulden tech can be used in other projects. That hopefully will inspire others to build on it too. On the other hand will Gulden greatly benefit from developments on the Novo project. An example is the zero confirmation tech which was/is on Guldens roadmap. But that tech is very costly to develop. With Guldens current low price, development funding is sparse. So if you have two projects basically paying for the same development that could be a huge advantage for the Gulden community and speed up things a lot.
There is one other difference with Gulden. As an investor to the Novo project you get to choose on what your funding/investment has to be spent. Development, or Marketing etc…
The project also promises to compensate the whole ecological footprint from mining into green projects. Creating a clean payment solution. This could also be achieved for Gulden if the community would choose so. Sigma mining at home and the witness system combined spiraled Gulden up in the rankings of most energy friendly currencies already. A last step could be made to completely make it CO2 neutral.
If we consider all the above mentioned points we can conclude that Novo is very different from Gulden. It will target a completely new audience and will help Gulden propel development to higher levels. Next to that Gulden could also benefit from the (very welcome) marketing exposure Novo creates. Novo will undoubtedly find it’s own spot in the crypto space which still has a tremendous room for growth.
To us Novo feels like it might have been a good idea up to a few month ago, since then Gulden price has re-gained strength and is thus better positioned to pay for development (although 10 cents would be more in the ballpark what we need). In addition the project is attracting new users from all over the world as the ever growing nodes count tells us. And Guldens energy consumption went down significantly since the introduction of Sigma mining at home. Last but not least, with the Phase4 release on the horizon Gulden will surpass a lot of projects out there!
What Gulden will not be able to offer though is a centralized governed leadership. It’s up to you what you value most.